Baogang Steel Union reports strong Q3 profit growth, driven by specialty steel strategy

Inner Mongolia Baogang Steel Union reported a 7.49% year-on-year increase in net profit attributable to shareholders for the first three quarters of 2025, reaching CNY 233 million. This growth was underpinned by a 14.29% rise in Q3 operating revenue, totaling CNY 16,751,203,364.09, despite a slight decrease in overall revenue for the nine-month period. The company emphasized its "quality boutique steel + rare earth steel" strategy, which led to an 18.1% increase in specialty steel production and an 8.28% rise in rare earth steel new material output.

The company's operational achievements included a 23.59% boost in heavy rail sales and a 375.27% increase in oriented silicon steel sales, alongside a 2.45% reduction in per-ton steel manufacturing costs. Baogang Steel Union also reported successful implementation of high-end material self-sufficiency initiatives and significant technological breakthroughs.

In a related announcement, the company detailed its Q3 production and sales figures for major steel products, including 1,282,468 tons of pipe materials and 7,158,815 tons of plate materials. Rare earth concentrate (dry weight, REO=50%) production reached 314,355 tons, with an average selling price of CNY 18,843 per ton. Fluorspar production was 617,012 tons, selling at an average price of CNY 1,493 per ton.